Amcomri has reported strong results for 1H25 with revenue +17% and adjusted EBITDA +15%. This is in line with the trading update that was released on 21 August 2025. The company states that it has good visibility for 2H25 and remains confident of its performance for FY25E and into FY26E. We have increased confidence in our forecasts for FY25E and FY26E, albeit with minor adjustments to interest, tax and depreciation reflected at the EPS level. Our valuation as detailed on p6 is based on EV/EBIT ....
